Ciena in mid-November beat Nokia Siemens Networks for the division of insolvent Nortel.
Tony Clement said in a statement late Tuesday that Ciena’s takeover will “maintain jobs, R&D activity and corporate leadership in Canada.”
Ciena already has secured permission from bankruptcy courts in the United States and Canada to make good on its MEN bid, which consisted of $530 million in cash and $239 million in convertible securities. The deal is expected to close in the first quarter of 2010.
Nortel declared bankruptcy on Jan. 14, 2009.
AT&T, CenturyLink and Connectwise are among those adding drama to telecom, IT and the channel since last fall. https://t.co/YTBVQGjWqt
February 24 2018 @ 12:15:30 UTC